Early in the morning today (Wednesday) the ratio of down stocks to up stocks was 30-1. Volume was excessive, as may be seen from the volume bar. Price was down in the -500 range in the Dow. As may be seen from today’s bar (long lower shadow) price recovered more than half. It looked like a climactic reversal day to us.
With such provocation we put on a small UPRO trade. In all likelihood a very short term scalp attempt. Not recommended — definitely — for readers. Though it could be the beginning of a b wave.
Price has left the box on the downside, right on the support line. We should know shortly whether this is a serious downtrend or not.